How product life-cycle leads to new product development?

Q: advantages of model of franchise that a business

A: Franchising or a business establishment model, is an authoritative plan of action or relationship by…

Q: Describe the value equation and provide an example. Discuss what evaluative criteria is and what…

A: The perceived benefits a customer will derive from consuming a product is known as value. It is…

Q: Marketing strategies vary at different stages of the product life cycle. Determine which stage of…

A: Like business go through the stages, same product or service also. The Product and service's life…

Q: What methods do businesses use to forecast sales?

A: Sales Forecast- This forecast is a prediction of the future sales revenue of the business. Sales…

Q: Why research and development (R&D) is important for any business?

A: Marketing research solely relates to collection of various market data and information to be used in…

Q: segmentation and targeting more crucial than determining the marketing mix

A: Market segmentation is a process under which the target market of a company's product or services is…

Q: Describe service recovery. Target, Inc.

A: Target, Inc is an Amercian retail chain which sells groceries, clothing etc. It has more than 4 lakh…

Q: What is the importance of service businesses to consumers?

A: Service industry: They provide financial and non-financial services to consumers. They involve…

Q: Data from a marketing information system is collected from which internal and external sources?

A: A marketing information system (MIS) is software that collects, saves, analyses, and disseminates…

Q: What is meant by performance appraisal?

A: The performance evaluation frequently includes the organization's core competencies and the…

Q: What steps have U.S. firms taken to regain a competitive edge in the global marketplace?

A: The measures adopted by American businesses to reclaim a competitive edge in the global marketplace…

Q: Our Business is Candle we need an specific explanation for this chapter Strategies to know the…

A: Business expansion and growth are significant for the survival of operations and activities. Today,…

Q: Research and give at least 5 examples of evidencing (visual communication) service design.

A: The process of graphically displaying information to quickly and effectively establish meaning is…

Q: What is the condition that the diversity program will be successful?

A: Diversity management refers to the effort made by the leaders of the organization to promote talent…

Q: Write short description for each Strategic Marketing Process Situational analysis Goal setting…

A: Strategic marketing process refers to conducting of various research, as well as developing…

Q: What steps have U.S. firms taken to regain a competitive edge in the global marketplace?

A: A competitive advantage occurs whenever one firm has an edge over another. In other words, it is…

Q: explain  Shoprite Holdings below intermediaries that adds value by bridging the gap between the…

A: The intermediaries like the wholesalers, merchants, distributors, agents and facilitators are an…

Q: Explain the responsibility for HRM.

A: The business is required to perform it's different activities to ensure its effectiveness in the…

Q: Give examples of collective action in m

A: Any coordinated social or political act carried out by a group of individuals in order to meet their…

Q: elect one: True

A: Creativity is something which is learnt from experience, right throughout the life a person learns…

Q: identify whether you think exploratory, descriptive or causal research would be the most…

A: An initial study on a speculative or theoretical idea is known as exploratory research. This style…

Q: 12 ASAP... Use current products familiar to you. Find at least three examples at each stage of the…

A: As a product progresses through its life cycle, business management implements a series of…

Q: In a way that is both critical and analytical, discuss the benefits and drawbacks of receiving an…

A: Artificial intelligence (AI) is the capacity of a computer or a robot controlled by a computer to…

Q: What are the customers' "Needs and Wants" and "Jobs to Be Done" from the crisps company Walkers?

A: PepsiCo is the parent organization of Walkers crisps. It is sold in UK and Ireland markets.

Q: Discuss 5 importance elements in managing customers satisfaction through telephone call

A: Satisfaction is the outcome when the expected performance of the product matches with the actual…

Q: Distinguish between a marketing information system and marketing research.

A: A systematic study of a problem is conducted to establish facts and draw conclusions. Because…

Q: Explain the term Profit-sharing.

A: Corporation is a business ownership structure which ensures company attains distinctive identify…

Q: 5 Characteristics of media literate person

A: Media literate person is a person, who has proper knowledge about various media channels. Such…

Q: Explain the Indiana-based Berry Global company.

A: Berry Global is an international company. It specializes in manufacturing and marketing of plastic…

Q: How does the state of competition among hotels indicate where this category is in the product life…

A: The market competition states about intensity of rivalry among related and un related firms present…

Q: Why companies believe that purchasing is one area where they can promote diversity?

A: Diversity and inclusion go beyond rules, programs, and headcounts. Companies who value their…

Q: State the variety of useful resources for secondary information.

A: Marketing research is one of the primary function of marketing which is performed prior to all other…

Q: How can a business firm improve the quality of its products or services?

A: A product is a tangible object that is placed on the market for acquisition, attention, or…

Q: If you were interviewing applicants for a sales position at the Container Store, what questions…

A: A salesperson plays an important role in promoting and selling the product. A salesperson is…

Q: State motivation factors that Herzberg found in his theory.

A: Motivation is the reason for will, desire, and goals. The word motivation is derived from motive.…

Q: What is a capital-intensive technology?

A: Technology is the application of science to solve the challenges in our daily life and bring luxury…

Q: Tell about pricing. More precisely, write what the companies should take into account when doing…

A: Pricing is the process of setting or deciding the price of a particular product. Pricing is the…

Q: ‘Marketing to the bottom of the pyramid (BOP) offers opportunities to companies but at the same time…

A: Marketing has a huge role to play for companies to grow in the market and expand their business.…

Q: Why is price lining used by some retailers?

A: Concept Of Price Lining - Price Lining, is that kind of a concept, which is also known as the…

Q: Each day a small business owner sells 200 pizza slices at ​$1.50 per slice and 85 sandwiches at…

A: * Given -  * Sold items -  - Pizza = 200 slices/day @ $1.50 - Sandwiches- 85 slices/day @ ​$4.00 *…

Q: The Parent Teacher Association (PTA) of Meadow High School is planning a fund-raising campaign. The…

A: * The school upon giving Mr. Logan Harville Auditorium at no cost and Mr. Logan can choose any two…

Q: SALES AND PROFITS (in Rs.)- Introduction Growth Maturity Decline TIME Fig. 6.1. Stages in Product…

A: There are different market strategies at every stage of product life cycle. From introduction to…

Q: It is crucial that managers understand the weight of their role. Explain the importance of the role…

A: An eatery's operations are overseen by a food and libation director. They are in charge of making…

Q: What is the Marketing Strategy of Tesla?

A: In order to identify prospective clients, Tesla uses a spread of implementing promoting techniques…

Q: Do you agree with the Container Store’s decision to allow employees access to all kinds of company…

A: Sharing and managing information with the employees is known as Knowledge Management. It is the…

Q: State the benefits of employee compensation.

A: Employee Compensation means  the compensation or benefits  that  is given  to  the  employees  for…

Q: State the disadvantages of dividing Hewlett-Packard into HP Inc. and Hewlett Packard Enterprise.

A: Every company will have an objective for long term sustenance and growth. Company will try to create…

Q: the ten (10) Entrepreneurial Personalities.

A: An entrepreneur is someone who is able to face challenges. Entrepreneurs get pleasure from will be…

Q: Create customer segmentation for Lynk

A: Lynk & Co is the automobile brand manufacturing company. It is a Chinese-Swedish company, which…

Q: What is meant by a replacement chart?

A: Positions are mapped alongside information like potential replacements, age, skills, experience,…

Product and Service Innovation

Product innovation is the introduction of either a new product or an existing product with significant improvements related to its characteristics. Improvements could be in various specifications and areas such as technical, technological, physical use, software updates, overall size and texture, and so on. For instance, consider the Apple Watch; they release different series every year with significant updates and improvements such as using cellular technology, monitoring your heart rate, acting as your fitness partner, measuring blood oxygen level, and so on. We see the addition of features in every series, and these improvements make them a different product altogether.